C&J Energy Services Inc (NYSE:CJ) was the recipient of unusually large options trading activity on Thursday. Stock investors bought 775 call options on the stock. This is an increase of approximately 1,309% compared to the average daily volume of 55 call options.

In related news, major shareholder Alternative Asset Manage Solus sold 29,809 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $29.83, for a total transaction of $889,202.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tim Wallace sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $29.56, for a total transaction of $59,120.00. Following the transaction, the insider now directly owns 12,248 shares of the company’s stock, valued at approximately $362,050.88. The disclosure for this sale can be found here. Insiders have sold 1,317,139 shares of company stock valued at $38,914,136 in the last ninety days.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. acquired a new stake in C&J Energy Services during the 2nd quarter valued at $140,000. Quantbot Technologies LP acquired a new stake in C&J Energy Services during the 2nd quarter valued at $144,000. SG Americas Securities LLC acquired a new stake in C&J Energy Services during the 2nd quarter valued at $152,000. US Bancorp DE acquired a new stake in C&J Energy Services during the 2nd quarter valued at $168,000. Finally, BNP Paribas Arbitrage SA acquired a new stake in C&J Energy Services during the 2nd quarter valued at $199,000.

CJ has been the subject of several recent research reports. Morgan Stanley raised shares of C&J Energy Services from an “equal weight” rating to an “overweight” rating and set a $44.00 price objective for the company in a research report on Tuesday, November 14th. Zacks Investment Research raised shares of C&J Energy Services from a “sell” rating to a “hold” rating in a research report on Wednesday, November 15th. Jefferies Group reissued a “buy” rating and issued a $36.00 price objective on shares of C&J Energy Services in a research report on Friday, October 6th. Guggenheim initiated coverage on shares of C&J Energy Services in a research report on Thursday, September 7th. They issued a “buy” rating and a $37.00 price objective for the company. Finally, Deutsche Bank reissued a “buy” rating and issued a $39.00 price objective on shares of C&J Energy Services in a research report on Tuesday, October 10th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. C&J Energy Services presently has a consensus rating of “Buy” and a consensus price target of $40.25.

Shares of C&J Energy Services (CJ) opened at $32.62 on Friday. C&J Energy Services has a fifty-two week low of $24.30 and a fifty-two week high of $46.30.

C&J Energy Services (NYSE:CJ) last released its quarterly earnings results on Thursday, November 9th. The company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.10. The firm had revenue of $442.70 million for the quarter, compared to analyst estimates of $445.87 million. C&J Energy Services’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.61) earnings per share. analysts expect that C&J Energy Services will post -0.06 earnings per share for the current year.

WARNING: “Investors Purchase High Volume of C&J Energy Services Call Options (CJ)” was first posted by American Banking News and is owned by of American Banking News. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/12/03/investors-purchase-high-volume-of-cj-energy-services-call-options-cj.html.

About C&J Energy Services

C&J Energy Services, Inc is a completion and production services company, which provides well construction, well completions and well services to the oil and gas industry. The Company operates through three segments: Completion Services, Well Support Services and Other Services. The Company also manufactures, repairs and refurbishes equipment used in the oilfield services industry.

Receive News & Ratings for C&J Energy Services Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for C&J Energy Services Inc and related companies with MarketBeat.com's FREE daily email newsletter.